Tag: three lines of defence

Financial institutions operate on complex systems that the public rarely notices. Beneath everyday banking services sit governance structures, risk frameworks, control environments and layers...

It is no secret that regulators around the world are becoming increasingly tougher on financial services companies. There is an unrelenting level of regulation being drafted and fines are hitting eyewatering sums. A report from Finbold pegged fines for non-compliance with AML, KYC and data privacy regulations at a total of €12bn in 2020.